Notice of Settlement of Molten Metal Securities Litigation Issued by Shapiro Haber & Urmy LLP

Apr 11, 2001, 01:00 ET from Shapiro Haber & Urmy LLP

    BOSTON, April 11 /PRNewswire/ -- Shapiro Haber & Urmy LLP and Berman
 DeValerio & Pease LLP, co-lead counsel for the class, announce that the
 following Summary Notice has been approved by the United States District Court
 for the District of Massachusetts to notify the class of the proposed
 settlement of the following actions:
     In re Molten Metal Technology, Inc. Securities Litigation, C.A.
 No. 97-10325-MLW" and "Marilyn Axler, et al. v. Scientifica Ecology Group,
 Inc. and H.W. "Bud" Arrowsmith, C.A. No. 98-10161-MLW
 
     Summary Notice of Pendency of Class Actions, Proposed Settlements
 and Settlement Hearing
     All Persons Or Entities Who Purchased The Common Stock Of Molten Metal
 Technology, Inc. ("Molten Metal") In The Open Market During The Period March
 28, 1995 Through And Including May 27, 1997, And Were Damaged Thereby (The
 "Class") ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of
 Civil Procedure and Orders of the Court dated March 9, 2001 that a hearing
 will be held before the Honorable Mark L. Wolf at the United States
 Courthouse, One Courthouse Way, Boston, MA 02210, at 3 p.m., on August 6, 2001
 to determine whether the above actions should be certified as class actions,
 whether proposed settlements should be approved by the Court as fair,
 reasonable and adequate, and to consider the application of Class Counsel for
 attorneys' fees and reimbursement of expenses.
     IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE
 AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUNDS. If you have
 not yet received the full printed Notice of Pendency of Class Actions, Hearing
 on Proposed Settlements and Attorneys' Fee Petitions and Right to Share In
 Settlement Funds, and a Proof of Claim form, you may obtain copies of these
 documents by identifying yourself as a member of the Class and by writing to
 the Claims Administrator:
 
     In re Molten Metal Technology, Inc. Securities Litigation
     c/o David Berdon & Co., LLP
     P.O. Box 9014
     Jericho, New York 11753-8914
     Telephone 800-766-3330
     Facsimile 516-931-0810
     www.dberdon.com/claims
 
     Inquiries, other than requests for the forms of Notice and Proof of Claim,
 may be made to the following Plaintiffs' Co-Lead Counsel:
     Thomas Shapiro, Esq.           Norman Berman, Esq.
     Shapiro Haber & Urmy LLP       Berman, DeValerio & Pease LLP
     75 State Street                One Liberty Square
     Boston, MA 02109               Boston, MA 02109
 
     To participate in the Settlements, you must file a Proof of Claim
 postmarked no later than July 17, 2001.  To exclude yourself from the Class
 you must file a request for exclusion so as to be received no later than July
 23, 2001.  IF YOU ARE A CLASS MEMBER AND DO NOT EXCLUDE YOURSELF OR DO NOT
 FILE A PROPER PROOF OF CLAIM, YOU WILL NOT SHARE IN THE SETTLEMENTS BUT YOU
 WILL BE BOUND BY THE FINAL ORDERS AND JUDGMENTS OF THE COURT.
     Further information may be obtained by directing your inquiry in writing
 to the Claims Administrator.
     PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION.
     By Order of The Court
 
 
     UNITED STATES DISTRICT COURT
     DISTRICT OF MASSACHUSETTS
 
     IN RE MOLTEN METAL TECHNOLOGY,
     INC. SECURITIES LITIGATION
     C.A. No. 97-10325-MLW
 
 
     MARILYN AXLER, et al.,
     Plaintiffs,
     v.
     SCIENTIFIC ECOLOGY GROUP, INC.
     and H. W. "BUD" ARROWSMITH,
     Defendants.
     C.A. No. 98-10161-MLW
 
 

SOURCE Shapiro Haber & Urmy LLP
    BOSTON, April 11 /PRNewswire/ -- Shapiro Haber & Urmy LLP and Berman
 DeValerio & Pease LLP, co-lead counsel for the class, announce that the
 following Summary Notice has been approved by the United States District Court
 for the District of Massachusetts to notify the class of the proposed
 settlement of the following actions:
     In re Molten Metal Technology, Inc. Securities Litigation, C.A.
 No. 97-10325-MLW" and "Marilyn Axler, et al. v. Scientifica Ecology Group,
 Inc. and H.W. "Bud" Arrowsmith, C.A. No. 98-10161-MLW
 
     Summary Notice of Pendency of Class Actions, Proposed Settlements
 and Settlement Hearing
     All Persons Or Entities Who Purchased The Common Stock Of Molten Metal
 Technology, Inc. ("Molten Metal") In The Open Market During The Period March
 28, 1995 Through And Including May 27, 1997, And Were Damaged Thereby (The
 "Class") ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of
 Civil Procedure and Orders of the Court dated March 9, 2001 that a hearing
 will be held before the Honorable Mark L. Wolf at the United States
 Courthouse, One Courthouse Way, Boston, MA 02210, at 3 p.m., on August 6, 2001
 to determine whether the above actions should be certified as class actions,
 whether proposed settlements should be approved by the Court as fair,
 reasonable and adequate, and to consider the application of Class Counsel for
 attorneys' fees and reimbursement of expenses.
     IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE
 AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUNDS. If you have
 not yet received the full printed Notice of Pendency of Class Actions, Hearing
 on Proposed Settlements and Attorneys' Fee Petitions and Right to Share In
 Settlement Funds, and a Proof of Claim form, you may obtain copies of these
 documents by identifying yourself as a member of the Class and by writing to
 the Claims Administrator:
 
     In re Molten Metal Technology, Inc. Securities Litigation
     c/o David Berdon & Co., LLP
     P.O. Box 9014
     Jericho, New York 11753-8914
     Telephone 800-766-3330
     Facsimile 516-931-0810
     www.dberdon.com/claims
 
     Inquiries, other than requests for the forms of Notice and Proof of Claim,
 may be made to the following Plaintiffs' Co-Lead Counsel:
     Thomas Shapiro, Esq.           Norman Berman, Esq.
     Shapiro Haber & Urmy LLP       Berman, DeValerio & Pease LLP
     75 State Street                One Liberty Square
     Boston, MA 02109               Boston, MA 02109
 
     To participate in the Settlements, you must file a Proof of Claim
 postmarked no later than July 17, 2001.  To exclude yourself from the Class
 you must file a request for exclusion so as to be received no later than July
 23, 2001.  IF YOU ARE A CLASS MEMBER AND DO NOT EXCLUDE YOURSELF OR DO NOT
 FILE A PROPER PROOF OF CLAIM, YOU WILL NOT SHARE IN THE SETTLEMENTS BUT YOU
 WILL BE BOUND BY THE FINAL ORDERS AND JUDGMENTS OF THE COURT.
     Further information may be obtained by directing your inquiry in writing
 to the Claims Administrator.
     PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION.
     By Order of The Court
 
 
     UNITED STATES DISTRICT COURT
     DISTRICT OF MASSACHUSETTS
 
     IN RE MOLTEN METAL TECHNOLOGY,
     INC. SECURITIES LITIGATION
     C.A. No. 97-10325-MLW
 
 
     MARILYN AXLER, et al.,
     Plaintiffs,
     v.
     SCIENTIFIC ECOLOGY GROUP, INC.
     and H. W. "BUD" ARROWSMITH,
     Defendants.
     C.A. No. 98-10161-MLW
 
 SOURCE  Shapiro Haber & Urmy LLP